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. Last Updated: 07/27/2016

International Paper Bid




NEW YORK -- U.S. paper company Champion International said Wednesday it received an acquisition offer from International Paper that values Champion at about $7.24 billion.


The offer, at $75 per share, rates Champion higher than its current friendly $5.5 billion stock deal with Finland's UPM-Kymmene and raises International Paper's unsolicited $6.2 billion cash-and-stock bid made last month.


In Helsinki, Finland, UPM said it was still considering the bid situation.